It’s interesting. It’ll break one of two ways: either we’ll be freed up for creative pursuits (Star Trek) or we’ll have a permanent population of lay abouts (Judge Dredd). Either way we’re going to have to figure out how to make things work in a world where we honestly don’t need most of the population to be doing anything other than consume.
It’ll shake out eventually, but getting from point A to point B could be unpleasant.